Upgrades & Downgrades: Exxon's Burst of Energy

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Last week saw stocks stagger to a split decision, though the Dow did end within one point of its 14-month high and the S&P 500 Index recovered from a poor start. Crude closed lower for an eighth successive session and gold fell over 4% on the week, which won't buck up Beck. The nation's midsection came under attack from both heartland snowstorms and a new McDonald's (MCD) Snack Wrap which swaddles hamburgers in tortillas. Gillette, whose selection of sports spokesmen has given it a grave shave, is granting Tiger some much needed space. See also What's Next for the Tiger Economy. President Obama took time out from overseeing two wars to wave at onlookers from behind bulletproof glass after receiving a peace prize named after the inventor of dynamite. Shakespeare's contention that "there is something rotten in the state of Denmark" proved prophetic as infinitely more exhaust fumes than usual emptied out into its capital city for a climate summit aimed at clearing the air.

As the number of nationwide bank failures this year swelled to 133, the star of a movie about history's most heinous bank robber ventured overseas to promote a five month old film he hasn't yet seen. There's no major economic data today but expect an interesting White House meeting between Obama and bankers he called "fat-cats" on 60 Minutes last night. (Clothing retailer Christoper & Banks (CBK), which plumped up an impressive 26.74% on Friday, apparently escapes opprobrium.) 3Com (COMS), Carter's (CRI), Steak n Shake (SNS), Take-Two Interactive (TTWO), and VeriFone (PAY) all announce earnings.

Initiations

AOL (AOL): The stock is assumed at Underperform with a price objective of $20 at Credit Suisse which expects a continuing fall off in its internet access business.

Medical Equipment: DENTSPLY International (XRAY) and Sirona Dental Systems (SIRO) each open wide with Buys at Bank of America/Merrill Lynch.

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